joining us now, head of fixed-income strategy. thank you for joining us. i mean, is a spike testified and how can we protect ourselves if we are in the bond market? >> well, if you're looking where interest rates are right now, the treasury market the tenure, basically back where we were two years ago really when we were in the middle of the beginning of the qe program. really pushing interest rates down. market is exiting, the fed is stepping back. tapir is expected to start principal and now expecting that interest rates will rise back to a more normal level that does not include the insolence of the fed. in terms of what investors are doing, we are generally seeing people move into shorter duration shorter maturity less interest-rate sensitive parts of the market. a lot of short maturity corporate bonds. csj, and etf. a investing in short corporates. those are bonds that provide income, less impacted by rising interest rates. ashley: as we see, the union is challenging the bankruptcy in detroit that, whether it is constitutional or not to, what about th